Argus Investors’ Counsel Lowers stake in 3M Co (MMM)

3M Co (MMM) : Argus Investors’ Counsel reduced its stake in 3M Co by 4.36% during the most recent quarter end. The investment management company now holds a total of 28,515 shares of 3M Co which is valued at $5,083,369 after selling 1,300 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.3M Co makes up approximately 2.06% of Argus Investors’ Counsel’s portfolio.

Other Hedge Funds, Including , Trust Co Of Virginia Va boosted its stake in MMM in the latest quarter, The investment management firm added 735 additional shares and now holds a total of 10,725 shares of 3M Co which is valued at $1,942,405. 3M Co makes up approx 0.33% of Trust Co Of Virginia Va’s portfolio.Neville Rodie Shaw Inc reduced its stake in MMM by selling 690 shares or 2.31% in the most recent quarter. The Hedge Fund company now holds 29,193 shares of MMM which is valued at $5,231,678. 3M Co makes up approx 0.61% of Neville Rodie Shaw Inc’s portfolio.

3M Co opened for trading at $178.11 and hit $178.8229 on the upside on Friday, eventually ending the session at $178.36, with a gain of 0.21% or 0.38 points. The heightened volatility saw the trading volume jump to 16,21,915 shares. Company has a market cap of $108,178 M.

On the company’s financial health, 3M Co reported $2.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $2.07. The company had revenue of $7662.00 million for the quarter, compared to analysts expectations of $7710.77 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.02 EPS.

3M Company is a diversified technology company. The Company operates in five business segments: Industrial which serves a range of markets such as automotive original equipment manufacturer (OEM) and automotive aftermarket electronics appliance paper and printing packaging food and beverage and construction; Safety and Graphics which serves a range of markets for the safety security and productivity of people facilities and systems; Electronics and Energy which serves customers in electronics and energy markets including solutions for electronic devices telecommunications networks electrical products power generation and distribution and infrastructure protection; Health Care which serves markets that include medical clinics and hospitals pharmaceuticals dental and orthodontic practitioners and health information systems and Consumer which serves markets that include consumer retail office retail home improvement building maintenance and other markets.

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